Eastman Kodak (NYSE:KODK) Rating Lowered to Hold at ValuEngine

Eastman Kodak (NYSE:KODK) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, ValuEngine reports.

Shares of KODK traded up $0.24 on Wednesday, reaching $2.99. The company’s stock had a trading volume of 799,271 shares, compared to its average volume of 189,728. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.29 and a current ratio of 1.94. The stock’s 50 day simple moving average is $2.60 and its two-hundred day simple moving average is $2.48. Eastman Kodak has a 12-month low of $1.87 and a 12-month high of $3.78.

In other Eastman Kodak news, major shareholder Blackstone Group Inc sold 8,875,211 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $2.50, for a total transaction of $22,188,027.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman James V. Continenza purchased 53,263 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $2.45 per share, with a total value of $130,494.35. Following the acquisition, the chairman now directly owns 153,263 shares of the company’s stock, valued at approximately $375,494.35. The disclosure for this purchase can be found here. 19.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in shares of Eastman Kodak by 122.0% in the third quarter. Tower Research Capital LLC TRC now owns 20,360 shares of the technology company’s stock worth $54,000 after buying an additional 11,188 shares during the period. Mid Atlantic Financial Management Inc. ADV purchased a new stake in shares of Eastman Kodak during the second quarter worth about $59,000. Jane Street Group LLC bought a new stake in shares of Eastman Kodak during the second quarter valued at approximately $127,000. Paloma Partners Management Co bought a new stake in Eastman Kodak in the 2nd quarter valued at $191,000. Finally, Quinn Opportunity Partners LLC bought a new position in Eastman Kodak during the second quarter valued at approximately $196,000. 44.55% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Kodak Company Profile

Eastman Kodak Company provides hardware, software, consumables, and services to customers in the graphic arts, commercial print, publishing, electronic displays, entertainment and commercial films, and consumer products markets worldwide. The company operates in six segments: Print Systems, Enterprise Inkjet Systems, Software and Solutions, Consumer and Film, Advanced Materials and 3D Printing Technology, and Eastman Business Park.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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